American Bitcoin, a firm linked to the Trump family, has reported a substantial increase in its share price, rising by approximately 12% to $1.38, following the announcement of the deployment of 11,298 new bitcoin mining ASICs at its site in Drumheller. This expansion brings the total number of ASICs to around 89,242, with the new units contributing an additional 3.05 exahash per second at an efficiency of 13.5 joules per terahash. The high efficiency rating is expected to reduce electricity costs per coin, enabling the company to maintain profitability despite rising network difficulty. According to Eric Trump, co-founder and chief strategy officer, the move reflects the company's strategy to strengthen its position in Bitcoin by scaling hashrate, allocating capital efficiently, and growing its exposure to Bitcoin at an institutional scale.
The new units represent the completion of a fleet expansion announced on March 3, 2026, demonstrating the company's commitment to bitcoin mining operations. This development comes as American Bitcoin has been expanding its BTC holdings, becoming the 16th-largest bitcoin holder with 6,899 BTC, and later increasing its treasury to 7,000 BTC.